{"id":18221,"date":"2026-04-28T11:50:49","date_gmt":"2026-04-28T11:50:49","guid":{"rendered":"https:\/\/topat10.com\/?p=18221"},"modified":"2026-04-28T11:50:49","modified_gmt":"2026-04-28T11:50:49","slug":"trumps-gold-card-visas-were-supposed-to-solve-the-39-trillion-national-debt-theyve-only-sold-one","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=18221","title":{"rendered":"Trump\u2019s \u2018gold card\u2019 visas were supposed to solve the $39 trillion national debt. They\u2019ve only sold one"},"content":{"rendered":"\n<p>Whether or not you agree with President Trump\u2019s methods to drum up revenue to assist with the government\u2019s balance of payments, economists largely welcome the fact that at least the White House is talking about deficits.<\/p>\n<p>At the time of writing, the U.S. Treasury is sitting on debt worth just shy of $39 trillion, a pile accumulated under both the Republicans and Democrats. Both sides of the house have looked on as interest payments to service that debt have soared to more than $1 trillion annually.<\/p>\n<p>This time last year, the president outlined his plan to charge rich immigrants $5 million for a gold card\u2014which has green card immigration privileges \u201cplus a route to citizenship.\u201d \u00a0\u201cA million cards would be worth $5 trillion, and if you sell 10 million of the cards that\u2019s a total of $50 trillion,\u201d Trump said last year. \u201cWell, we have $35 trillion in debt, so that would be nice.\u201d<\/p>\n<div>\n<p>He noted that he would have $15 trillion \u201cleft over\u201d if he managed to sell 10 million cards, adding: \u201cIt may be earmarked for deficit reduction, but it actually could be more money than that.\u201d<\/p>\n<p>Trump encouraged reporters to \u201cremember the words \u2018gold card&#8217;\u201d last year, and on Thursday, Commerce Secretary Howard Lutnick had an update: One person has been approved. \u201cThere are hundreds in the queue that they are going through,\u201d Lutnick added to a congressional committee hearing last week.<\/p>\n<p>Despite promising a year ago that gold cards would raise $1 trillion in revenue, Lutnick updated the committee that the \u201cset up\u201d of the scheme has now been completed, and the team \u201cwanted to make sure they did it perfectly.\u201d <\/p>\n<p>While budget hawks will welcome any revenues earmarked for debt reduction, there are some questions over the feasibility of the scheme: More importantly, how many immigrants are wealthy enough to fork out $5 million per card, or $20 million for a family of four.<\/p>\n<p>Therein lies the problem: Knight Frank\u2019s Wealth Report for 2026, published last week, broke down where the globe\u2019s ultra-high net worth individuals (UHNWs) live\u2014defined as people with more than $30m in assets.<\/p>\n<p>While there has been significant growth in regions such as Indonesia, Saudi Arabia and Poland, the UHNW populations of each are still relatively small. For example, the Middle East as a whole is home to just 3% of the UHNW population. <\/p>\n<p>Europe as a whole, already home to pockets of wealth in the likes of London and Paris, is home to 22.7% of the world\u2019s UHNW population. North America, on the other hand, is home to 42.6% of the population of the world\u2019s wealthiest.<\/p>\n<p>In other words, the predominant portion of people able to afford gold cards are likely to already live in the U.S. as it is, by far, <a aria-label=\"Go to https:\/\/worldpopulationreview.com\/country-rankings\/millionaires-by-country\" href=\"https:\/\/worldpopulationreview.com\/country-rankings\/millionaires-by-country\">home to the most millionaires. <\/a><\/p>\n<h2 class=\"wp-block-heading\">Tariff question<\/h2>\n<p>Trump had also proposed tariffs as another revenue stream for helping to <a aria-label=\"Go to https:\/\/fortune.com\/2025\/12\/03\/donald-trump-national-debt-tariffs-dividends-payments-math\/\" href=\"https:\/\/fortune.com\/2025\/12\/03\/donald-trump-national-debt-tariffs-dividends-payments-math\/\">pay down national debt<\/a>. <\/p>\n<p>The duties have indeed proved a major boon to the balance sheet, the <a aria-label=\"Go to https:\/\/budgetlab.yale.edu\/research\/tracking-economic-effects-tariffs\" href=\"https:\/\/budgetlab.yale.edu\/research\/tracking-economic-effects-tariffs\">Yale budget lab<\/a> reporting earlier this month that tariffs collected in 2025 raised an estimated $214.7 billion in inflation-adjusted customs revenue above the 2022\u20132024 average, roughly around $300 billion a year.<\/p>\n<p>The method has proved so effective that economists widely expect future administrations to keep the levies in place\u2014despite their unpopularity with foreign trade allies. But under Trump, how the proceeds will be used remains a question. <\/p>\n<p>For example, the president previously said he would be sharing the funds in the form of a $2,000 rebate checks. However, <a aria-label=\"Go to https:\/\/fortune.com\/2025\/11\/18\/odds-of-president-trump-paying-out-2000-tariff-rebate-checks\/\" href=\"https:\/\/fortune.com\/2025\/11\/18\/odds-of-president-trump-paying-out-2000-tariff-rebate-checks\/\">calculations by <em>Fortune<\/em><\/a> found that even if the government were to pay each household\u2014as opposed to each individual\u2014in the bottom 50% of earners, that would still require payouts to more than 67.5 million homes,\u00a0<a aria-label=\"Go to https:\/\/fred.stlouisfed.org\/series\/WFRBLB50300\" href=\"https:\/\/fred.stlouisfed.org\/series\/WFRBLB50300\">per data from the St. Louis Fed<\/a>. That would imply $135 billion, or nearly half of the tariff revenues, would immediately be paid out to citizens instead of being directed toward national debt.<\/p>\n<p>There\u2019s also the question of the One Big Beautiful Bill Act. <a aria-label=\"Go to https:\/\/www.crfb.org\/blogs\/obbba-dynamic-score-comes-47-trillion\" href=\"https:\/\/www.crfb.org\/blogs\/obbba-dynamic-score-comes-47-trillion\">The Committee for a Responsible Federal Budget highlighted<\/a> last month that, taking into account its dynamic effect on the economy, spending and tax breaks in the act will add\u00a0$4.2 trillion\u00a0to the national debt through Fiscal Year (FY) 2034 or\u00a0$4.7 trillion\u00a0through 2035.<\/p>\n<p>Previously, much of this had been earmarked to be offset by tariffs\u2014which had been estimated to reduce deficits by $2.5 to $3 trillion through 2035. However, in the wake of a Supreme Court ruling earlier this year about the legal basis for 2025 tariffs, the <a aria-label=\"Go to https:\/\/www.cbo.gov\/publication\/62210\" href=\"https:\/\/www.cbo.gov\/publication\/62210\">Congressional Budget Office (CBO) has reexamined its outlook<\/a>. In March, the CBO wrote that the termination of the tariffs resulted in deficit increases of $2 trillion greater by 2036 than previously projected.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Whether or not you agree with President Trump\u2019s methods to drum up revenue to assist with the government\u2019s balance of payments, economists largely welcome the fact that at least the White House is talking about deficits. At the time of writing, the U.S. Treasury is sitting on debt worth just shy of $39 trillion, a [&hellip;]<\/p>\n","protected":false},"author":367,"featured_media":18222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-18221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trump\u2019s \u2018gold card\u2019 visas were supposed to solve the $39 trillion national debt. They\u2019ve only sold one | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" content=\"Gold card revenue &quot;may be earmarked for deficit reduction, but it actually could be more money than that,&quot; Trump previously told reporters.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/topat10.com\/?p=18221\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s \u2018gold card\u2019 visas were supposed to solve the $39 trillion national debt. 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Pringle","author_link":"https:\/\/topat10.com\/?author=367"},"uagb_comment_info":0,"uagb_excerpt":"Whether or not you agree with President Trump\u2019s methods to drum up revenue to assist with the government\u2019s balance of payments, economists largely welcome the fact that at least the White House is talking about deficits. 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